The Ultimate Guide for Writing a Dispensary Business Plan
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Whether you are writing a business plan to get a permit, attract investors or simply help you with managing the dispensary, there are a few things that you need to include to make it a good dispensary business plan:
Mission statement ď‚—
What do you want to achieve by starting a marijuana dispensary? Do you want to provide easy access to medical marijuana for patients who are seeking pain relief? In this section of your dispensary business plan, you need to state what your mission really is and how you are planning to achieve it.
Market analysis ď‚—
In this part of your dispensary business plan, you will be focusing on the growth of medical marijuana industry, shifting public perceptions and changes in law. You will be showing officials and investors as well that there is market out there for medical marijuana and you want to meet that need.
You and your background After showing that there is a need for medical marijuana, you need to explain why you are the right person to meet that particular need. Do you have any experience that makes you unique? You could have experienced the benefits of using medical marijuana and now you want other people that are suffering from the same problem to experience the same benefits. The point here is: why should you be the one to supply the current demand?
Management
Management
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You are likely not going to start medical marijuana dispensary alone. You need to outline the people who will be sitting in your board and why they qualify. Profile your staff, partners and other people who will be working for you and state what makes them stand out from the rest.
Marijuana products ď‚—
Who will supply you with marijuana? And in what form and cost do you plan to sell it? You also need to consider the fact that there may be a change in the market or your customers may demand something different. In this case, will you be flexible enough to grow and evolve your business to meet their demand?
Finances You need to determine how much it costs to start a medical marijuana dispensary and where you will get funds from. If you will get funding from investors, you need to know what they will get in return.
Writing a business plan shouldn’t be difficult as long as you understand the steps involved. You can use a medical marijuana business plan template to guide you.
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